Genmab A/S (NASDAQ:GMAB) Sees Significant Decline in Short Interest

Genmab A/S (NASDAQ:GMAB) saw a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 2,020,000 shares, a decrease of 11.4% from the November 15th total of 2,280,000 shares. Based on an average daily trading volume, of 1,150,000 shares, the days-to-cover ratio is currently 1.8 days. Approximately 0.3% of the shares of the company are short sold.

Genmab A/S Stock Performance

Shares of NASDAQ GMAB traded up $0.05 during trading on Tuesday, hitting $20.07. 466,128 shares of the company were exchanged, compared to its average volume of 739,317. The company has a fifty day moving average price of $22.08 and a 200-day moving average price of $24.99. Genmab A/S has a 12-month low of $19.85 and a 12-month high of $32.88. The firm has a market capitalization of $13.28 billion, a PE ratio of 19.44, a P/E/G ratio of 0.67 and a beta of 0.96.

Genmab A/S (NASDAQ:GMAB) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). Genmab A/S had a net margin of 23.49% and a return on equity of 14.64%. The business had revenue of $816.10 million during the quarter, compared to analyst estimates of $838.20 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. Research analysts anticipate that Genmab A/S will post 1.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GMAB. BMO Capital Markets reiterated an “outperform” rating and set a $48.00 price target (up previously from $46.00) on shares of Genmab A/S in a research report on Friday, November 8th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Genmab A/S in a research note on Tuesday, August 20th. Truist Financial reduced their price objective on shares of Genmab A/S from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, September 9th. HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of Genmab A/S in a research report on Wednesday, October 16th. Finally, Redburn Atlantic started coverage on Genmab A/S in a report on Tuesday, October 8th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.20.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GMAB. Legacy Wealth Asset Management LLC lifted its holdings in shares of Genmab A/S by 1.1% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 44,979 shares of the company’s stock worth $1,097,000 after acquiring an additional 471 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Genmab A/S by 7.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 7,227 shares of the company’s stock valued at $182,000 after buying an additional 478 shares during the period. Eagle Asset Management Inc. lifted its stake in Genmab A/S by 10.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 12,356 shares of the company’s stock worth $285,000 after acquiring an additional 1,121 shares in the last quarter. Rhumbline Advisers grew its position in Genmab A/S by 7.1% in the 2nd quarter. Rhumbline Advisers now owns 18,694 shares of the company’s stock valued at $470,000 after acquiring an additional 1,236 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Genmab A/S by 43.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,653 shares of the company’s stock valued at $113,000 after purchasing an additional 1,413 shares in the last quarter. Institutional investors and hedge funds own 7.07% of the company’s stock.

About Genmab A/S

Genmab A/S develops antibody therapeutics for the treatment of cancer and other diseases primarily in Denmark. The company markets DARZALEX, a human monoclonal antibody for the treatment of patients with multiple myeloma (MM); teprotumumab for the treatment of thyroid eye disease; and Amivantamab for advanced or metastatic gastric or esophageal cancer and NSCLC.